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tptacek 519 days ago | link | parent

How seriously should anyone take an economical argument based on the dollar losing "99% of it's value" since 1913? The purchasing power of the average American has in the last 100 years increased by over 200%. And this is one of Paul's key arguments.


cpr 518 days ago | link

Politifact http://www.politifact.com/virginia/statements/2010/nov/24/vi... claims it's "half true".

The Bureau of Labor Statistics, supposedly no partisan outfit, says the dollar has lost 95% of its purchasing power since 1913: http://www.infoplease.com/ipa/A0001519.html .

So Paul's claim isn't far off.

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tptacek 518 days ago | link

It's like you --- and Paul --- think the purpose of the economy is to imbue value into little green pieces of paper. You'd be an idiot to trade places with your time-traveling peer from 1913. It's not that Paul's claim is "off"; it's that it's nonsensical.

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cpr 518 days ago | link

Hand-waving wildly, trying to avoid the loss of purchasing power that's the inevitable result of fiat money, and ad hominem to boot.

Actually, I'd be happy to trade places with someone living in 1913.

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tptacek 518 days ago | link

"Deal!" says the time-traveler after you offer to impoverish yourself for the sake of a religious argument about how wealth is denominated. You can look up the purchasing power disparity between the average 1913er and yourself; the difference is stark before you consider that any American homeless person in 2012 has better medical care than did Woodrow Wilson.

Time travelers tip: avoid Europe for a couple years, and boil your water.

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cpr 516 days ago | link

I'll take it. Who says health is the end-all and be-all of human existence?

I'll come back for my claim chowder when the US economy collapses Greek-style, thanks to a fiat currency controlled by a private entity like the Fed, crony corporate welfarism (I'm repeating myself), and the fact that people have now figured out that they can vote themselves goodies. The Republic is over, as the founders warned us when the latter would happen.

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shrughes 516 days ago | link

Have fun dying in the trenches.

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